AD8
Bullish ADL Divergence is when the ADL is trending upwards while price is trending down. ADL trending up shows an increase in buying pressure (Accumulation). Assuming volume does precede price, a reversal in price definitely seems possible.
Anticipate for the price action to reverse into a major uptrend eventually as accumulation pressure increases.
Trade active:
Order triggered @ 6.85 today as per plan. TP and SL also as per previous plan.
Entry looking at 6.85 where it has been trading below 7.0 recently. The entry level is also on the edge of a major volume profile high vol trading region. This level has also been well supported in the last year. Want to get in a bit early before the majority of people get in to start trading.
SL is at 5.74, below the next high vol node which I anticipate will provide support.
TP 8.22 is probably a bit ambitious and will probably take some time under the current environment where growth stocks are out of favor. TP is in a high vol node area and just below a resistance level where the price has failed to break through 3 times.